Oxycodone is a narcotic analgesic having the structure (I):

Oxycodone can be manufactured from the natural product thebaine (II) by a well-known process as disclosed in U.S. Pat. No. 6,090,943:
Thebaine (II) or a salt thereof is reacted with hydrogen peroxide in isopropanol, water and formic acid, producing 14-hydroxycodeinone (III). The double bond in the 14-hydroxycodeinone (III) is reduced by reaction with hydrogen in the presence of a Pd/BaSO4 catalyst, providing oxycodone (I).